Boston VA Loan Rates, Closing Costs & Stats

Boston-Cambridge-Newton, MA-NH

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    Boston's 111 lenders originated 1,282 VA loans during 2023. The total origination value was $666,620,000, with an average VA loan value of $519,984.

    Boston VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Boston averaged 6.25% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Boston's average VA mortgage closing costs are $7,242.

    The average rate for the prior week (2024-11-01) was 6.41% and one month ago for the week of 2024-10-04, the average rate was 5.73%.

    The average rate one year ago was 7.39%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.59%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Boston VA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Boston level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 183 6.54% $12,631
    QUICKEN LOANS, LLC 80 6.09% $15,904
    GUARANTEED RATE, INC. 65 6.14% $10,333
    LOANDEPOT.COM, LLC 65 6.26% $14,680
    NAVY FEDERAL CREDIT UNION 65 5.88% $8,696
    UNITED WHOLESALE MORTGAGE, LLC 63 6.43% $9,370
    CROSSCOUNTRY MORTGAGE, LLC 58 6.56% $12,859
    CMG MORTGAGE, INC. 46 6.53% $12,246
    PENNYMAC LOAN SERVICES, LLC 41 5.45% $10,938
    FREEDOM MORTGAGE CORPORATION 37 6.45% $18,419
    MOVEMENT MORTGAGE, LLC 34 6.26% $10,181
    USAA Federal Savings Bank 32 6.14% $11,051
    The Federal Savings Bank 32 6.06% $20,945
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 30 6.62% $11,056
    GUILD MORTGAGE COMPANY 22 6.72% $10,925
    RADIUS FINANCIAL GROUP INC. 16 6.48% $12,976
    Leader Bank 15 6.16% $9,004
    HARBORONE MORTGAGE, LLC 12 6.02% $10,767
    PRIMELENDING, A PLAINSCAPITAL COMPANY 12 6.15% $11,712
    NEWREZ LLC 11 6.43% $11,329
    PENTAGON FEDERAL CREDIT UNION 11 5.33% $13,025
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 10 6.21% $7,981
    Mr. Cooper ( Nationstar Mortgage ) 10 5.89% $16,406
    BROKER SOLUTIONS, INC. 9 6.54% $12,623
    AMERISAVE MORTGAGE CORPORATION 9 5.57% $19,528
    Barrington Bank & Trust Company, N.A. 8 6.21% $19,957
    GUARANTEED RATE AFFINITY, LLC 8 6.13% $12,400
    BNC National Bank 8 5.58% $13,437
    Magnolia Bank 8 6.25% $18,805
    EMM LOANS LLC 8 6.45% $8,671
    NBKC BANK 8 6.48% $12,663
    Armed Forces Bank 7 6.36% $17,233
    ENVOY MORTGAGE, LTD 7 6.57% $7,177
    TOTAL MORTGAGE SERVICES, LLC 7 6.75% $14,812
    HOMEBRIDGE FINANCIAL SERVICES, INC. 7 6.20% $15,868
    The Camden National Bank 6 6.15% $11,216
    SALEM FIVE MORTGAGE COMPANY, LLC 6 6.63% $10,942
    American Mortgage & Equity Consultants, Inc. 5 6.55% $13,283
    RELIANCE FIRST CAPITAL, LLC 5 6.38% $11,847
    NORTHPOINT MORTGAGE, INC. 5 6.85% $12,351
    Shamrock Home Loans, Inc. 5 6.20% $6,947
    AMERICAN FINANCIAL NETWORK, INC. 5 6.53% $12,484
    MORTGAGE EQUITY PARTNERS LLC 5 6.60% $8,813
    GENEVA FINANCIAL, LLC 5 6.90% $13,179
    Wells Fargo Bank 4 5.84% $10,072
    DREW MORTGAGE ASSOCIATES, INC. 4 6.50% $6,416
    LAKEVIEW LOAN SERVICING, LLC 4 6.22% $17,593
    Keystone Funding, Inc. 4 6.25% $7,394
    HANSCOM 4 6.41% $2,706
    The Washington Trust Company, of Westerly 4 6.69% $10,034
    ACADEMY MORTGAGE CORPORATION 3 6.67% $5,749
    ALLIED MORTGAGE GROUP, INC. 3 6.29% $14,678
    Bank of England 3 6.42% $16,278
    Citizens Bank 3 6.46% $8,810
    EMBRACE HOME LOANS, INC. 3 5.92% $12,286
    JPMorgan Chase Bank 3 6.33% $9,661
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.25% $13,228
    NEW DAY FINANCIAL, LLC 3 7.29% $11,004
    NEW FED MORTGAGE, CORP. 3 6.17% $18,494
    NFM, INC. 3 6.08% $9,228
    Prosperity Home Mortgage, LLC 3 6.00% $10,774
    U.S. Bank 3 6.42% $6,336
    VILLAGE CAPITAL MORTGAGE 2 6.19% $24,589
    FIRST MORTGAGE COMPANY, INC. 2 6.43% $19,606
    FIRST HOME MORTGAGE CORPORATION 2 6.81% $20,294
    NATIONS DIRECT MORTGAGE, LLC 2 6.25% $10,820
    North American Savings Bank, F.S.B. 2 5.50% $3,722
    Northpointe Bank 2 5.50% $11,466
    NORWICH COMMERCIAL GROUP, INC. 2 6.00% $11,677
    DRAPER AND KRAMER MORTGAGE CORP. 2 6.56% $16,325
    CONWAY FINANCIAL SERVICES, LLC 2 6.50% $14,940
    Presidential Bank, FSB 2 6.00% $21,434
    CARDINAL FINANCIAL 2 6.19% $18,077
    Bridgewater Savings Bank 2 5.94% $2,461
    Semper Home Loans, Inc. 2 6.69% $24,283
    Sierra Pacific Mortgage Company, Inc. 2 6.06% $14,156
    Berkshire Bank 2 6.25% $12,274
    BAYCOAST MORTGAGE COMPANY, LLC 2 6.00% $14,784
    HOMESIDE FINANCIAL, LLC 2 6.25% $4,715
    Flagstar Bank, FSB 2 6.75% $17,779
    Paramount Residential Mortgage Group, Inc. 1 6.75% $4,726
    HOMESTEAD FUNDING CORP. 1 7.00% $11,049
    LENOX FINANCIAL MORTGAGE CORPORATION 1 5.88% $10,975
    PHH Mortgage Corporation 1 5.99% $7,968
    Plains Commerce Bank 1 6.63% $7,085
    PLAZA HOME MORTGAGE, INC. 1 7.25% $835
    PREMIA MORTGAGE, LLC 1 5.25% $8,544
    Bank of New Hampshire 1 6.75% $16,625
    CONTOUR MORTGAGE CORPORATION 1 6.25% $25,202
    Waterstone Mortgage Corporation 1 7.63% $8,859
    PROVINCE MORTGAGE ASSOCIATES, INC. 1 6.88% $5,492
    CHURCHILL MORTGAGE CORPORATION 1 7.25% $6,733
    Bank of America 1 7.13% $4,199
    Capital Bank 1 6.00% $17,226
    First National Bank Texas 1 7.13% $5,359
    Rockland Trust Company 1 6.50% $7,072
    TOWNE MORTGAGE COMPANY 1 6.50% $17,411
    First Federal Bank 1 6.63% $15,133
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.75% $2,009
    Lakeview Community Capital, LLC 1 5.75% $21,685
    Fall River Five Cents Savings Bank 1 6.63% $10,995
    Evolve Bank & Trust 1 7.13% $5,380
    AMERICAN INTERNET MORTGAGE, INC. 1 5.50% $11,094
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.00% $13,020
    EVERETT FINANCIAL, INC. 1 5.88% $18,637
    MILEND, INC. 1 6.25% $14,583
    BM Real Estate Services, Inc. 1 7.25% $22,788
    LADERA LENDING, INC. 1 6.13% $10,401
    EQUITY RESOURCES, INC. 1 6.25% $3,978
    SUN WEST MORTGAGE COMPANY, INC. 1 5.25% $22,491
    OCMBC, INC. 1 7.13% $3,249

    The top Boston VA lender as defined by loan originations is Mortgage Research Center, LLC, with 183 VA loans originated. Their average total fees are $12,631, which is $3,273 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Boston VA lenders (with over 10 loans originated) are ARK-LA-TEX FINANCIAL SERVICES, LLC. ($7,981), NAVY FEDERAL CREDIT UNION ($8,696), Leader Bank ($9,004), UNITED WHOLESALE MORTGAGE, LLC ($9,370) and MOVEMENT MORTGAGE, LLC ($10,181).

    The lowest rate Boston VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (5.33%), PENNYMAC LOAN SERVICES, LLC (5.45%), NAVY FEDERAL CREDIT UNION (5.88%), Mr. Cooper ( Nationstar Mortgage ) (5.89%) and HARBORONE MORTGAGE, LLC (6.02%).

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.